Open USD Tops USDC and JPYSC With a $46.8 Million Market-Cap Gain

Open USD (OUSD) market capitalization increased $46.8 million over the past week, compared with $38.8 million for USDC and $30.8 million for JPYSC.

OUSD’s gain exceeded USDC’s by $8 million. OUSD is designed to maintain a value relative to the U.S. dollar.

For a circulating asset, market capitalization is circulating supply multiplied by end-of-day price. A change in that measure alone does not show how many tokens were traded or whether new OUSD was issued.

In an earlier seven-day snapshot of Tempo stablecoins, OUSD accounted for nearly two-thirds of the network’s $449.82 million market-cap increase. That network-level change measures a different slice of the market from changes in individual stablecoins.